Progressive Insurance® Introduces Pet Insurance for Cats and Dogs
Rhea-AI Summary
Progressive (NYSE:PGR) launched a new pet insurance product for cats and dogs on January 20, 2026, underwritten directly by Progressive and administered by Companion Protect.
The offering includes Accident & Illness plans, an optional Wellness endorsement, customizable deductibles/reimbursements/annual limits, online claims, and access to licensed vet experts. Average policy cost is $47 per month. The product is available in 43 states and D.C. and is expected to be nationwide in 2026. Pets Best will continue servicing existing Pets Best policyholders.
Positive
- Underwritten directly by Progressive, increasing control over pricing
- Average premium $47/month—a clear pricing benchmark
- Available in 43 states and D.C.; nationwide rollout expected in 2026
- Customizable plans with Accident & Illness plus optional Wellness endorsement
Negative
- Not yet nationwide—availability limited outside the 43 states and D.C.
- Premiums and eligibility vary by age and breed, reducing price predictability
- Administration split: new product via Companion Protect while Pets Best continues service
Key Figures
Market Reality Check
Peers on Argus
PGR fell 0.57% while key peers were mixed: CB gained 0.25%, ALL lost 1.42%, TRV, HIG and CINF were modestly negative. With no peers in the momentum scanner and mixed moves, trading appeared more stock-specific than sector-driven.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 17 | Monthly results | Positive | -2.0% | November 2025 premiums rose while net income and EPS declined modestly. |
| Dec 09 | Product partnership | Positive | +1.4% | Expanded Best Egg loan access within Progressive’s customer ecosystem. |
| Dec 08 | Dividend announcement | Positive | +0.1% | Declared $13.50 annual and $0.10 quarterly dividends with 2026 meeting dates. |
| Nov 19 | Monthly results | Positive | -0.9% | October 2025 premiums and income grew, with improved combined ratio. |
| Nov 06 | CSR initiative | Positive | +0.3% | Keys to Progress® donated 100 vehicles to veterans nationwide. |
Recent monthly results with strong premium growth but mixed earnings saw negative reactions, while partnership, dividend, and CSR news generally aligned with modestly positive price moves.
Over the last few months, Progressive reported strong premium growth in October and November 2025, with higher net premiums written and earned but mixed net income trends. These financial updates saw slightly negative price reactions. In contrast, strategic and shareholder-focused items—such as the expanded Best Egg personal loan relationship on Dec. 9, 2025, the announced $13.50 annual dividend and $0.10 quarterly dividend, and the Keys to Progress® vehicle donations—produced modestly positive reactions. Today’s pet insurance launch fits the pattern of product and ecosystem expansion news.
Market Pulse Summary
This announcement expands Progressive’s portfolio with pet insurance underwritten directly by the company, averaging $47 per month and initially available in 43 states and D.C.. It builds on more than 15 years of pet insurance experience and follows other ecosystem moves like personal loan access and recent dividend declarations. Investors may watch how quickly coverage becomes truly countrywide in 2026 and whether policies in force or premium growth commentary in future monthly results reflect traction from this launch.
Key Terms
accident and illness financial
AI-generated analysis. Not financial advice.
The new offering, underwritten by Progressive, helps pet parents manage
unexpected and costly vet bills
The new offering is underwritten directly by Progressive and its affiliated underwriting companies and administered by pet insurance program provider Companion Protect. Customers can expect the same high standard of service and support Progressive prides itself on across all its products, as well as competitive pricing and customizable options that allow customers to select the coverage that best fits their unique needs and budget.
"At Progressive, we share the love and enthusiasm people have for their pets and we're excited to continue to deliver on our commitment to helping people protect what matters most to them with this new offering," said Progressive Pet Insurance Business Leader Drew Purcell. "There's a growing demand for pet insurance and this new product reflects our dedication to meeting that need and building an enduring brand by expanding our portfolio into new markets with competitive prices and high-quality service."
Progressive Pet Insurance policies cost
Customers can service their policy and file claims online and will have access to help from licensed vet experts online or by phone through Companion Protect's CARE team. Discounts may be available for multi-pet policyholders, existing Progressive customers, and those who add the Wellness endorsement to their Accident and Illness coverage plan.
The new product is being offered alongside Progressive's long-standing pet insurance program administered by Pets Best, which will continue to provide new and existing Pets Best policyholders with servicing and claims support.
Progressive has long been a leader when it comes to protecting pets as it has offered pet insurance for more than 15 years through Pets Best and was the first auto insurer to offer Pet Injury coverage on personal auto policies with collision insurance.
Progressive Pet Insurance is currently available in 43 states and D.C. and is expected to be available countrywide in 2026.
To learn more about Progressive Pet Insurance, please visit progressive.com/pet-insurance.
About Progressive
Progressive Insurance® makes it easy to understand, buy and use car insurance, home insurance, and other protection needs. Progressive offers choices so consumers can reach us however it's most convenient for them — online at progressive.com, by phone at 1-800-PROGRESSIVE, via the Progressive mobile app, or in-person with a local agent.
Progressive provides insurance for personal and commercial autos and trucks, motorcycles, boats, recreational vehicles, and homes; it is the second largest personal auto insurer in the country, a leading seller of commercial auto, motorcycle, and boat insurance, and one of the top 15 homeowners insurance carriers.
Founded in 1937, Progressive continues its long history of offering shopping tools and services that save customers time and money, like Name Your Price®, Snapshot®, and HomeQuote Explorer®.
The Common Shares of The Progressive Corporation, the Mayfield Village,
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SOURCE Progressive Insurance
FAQ
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